To be clear… that’s correct! I sold a couple at 4510 .. as not to miss downside move should we broke the other way, I could’ve built on that! However we broke the other way, as I noted yesterday on the move from 4486 to 4530.. then possibly to 4550… got lucky on larger move & I sold 5 more here at 4580 … 2 more here at 84 at R… Cutting my cost avg nicely…. I can swing up to 25 cars comfortably here with good sized swings in my position acct where the big money is made!.. Currently short 8 cars.. only 1/3 rd & modest position for 2-3 month swing trade… I scale in & out of these positions on significant moves… adding and subtracting as we flow. I don’t usually elaborate on my position size or strategy… but made an exception for you. How’s your methodology working out for you?
Your premise will be tested tomorrow morning with the latest CPI print. If it's negative (or at least lower than expected, YAY!) If it is higher than expected, look out below!
Got it. Thanks for clarifying. Humbly, I don't think anyone is obliged to do anything, but if one is posting about building a position and calling trades, I don't think it's out of the way to keep things transparent. Since the market rallied so strongly these last two days I was merely curious if you were still holding short at this point. Good week so far. Been on the right side of the market all week, except Monday's late session sell-off (but I was on the sidelines and didn't lose anything on it).
Well, there is something troubling about this weekly rise we've seen. This morning JPMorgan talked about a "whisper" that the print would be way lower than expectations. I think that has set-up the algos for a false-flag deal. I am expecting a VIX spike tomorrow back to the near-mid-20s, which means down for tech, and up for the 10Y. Here comes 2%!
Using channels, you can see today as a breakout... Todays volume was lowest since January 3! Tomorrow, with it's potential to be news driven, I see an outside day in the making.
Gratz. You win the annual ET-ugliest-chart-of-the-year award, awarded never. I mean seriously, why the pink? And your bottom trend-channel line is flopping around out in nowhere land. LOL
I wear your award as a badge of honor, especially in todays all inclusive world. Maybe you should learn to embrace colorization... it might help you make profits!!